OpenAI-backed Thrive Holdings raises $2B to bring AI to the enterprise | TechCrunch

Thrive Holdings has secured $2 billion in its latest investment round, boosting the company's valuation to $12 billion.

Operating similarly to a private equity firm, the organization specializes in acquiring established, traditional service businesses in sectors like accounting and information technology, subsequently restructuring their daily workflows through the deployment of artificial intelligence. This massive funding round, which attracted participation from major venture players such as SoftBank, Altimeter Capital, and D1 Capital Partners, will support the company's planned expansion into a third business division focused on managing physical assets, real estate development, and navigating complex regulatory compliance hurdles.

A key component of Thrive's operational model is its strategic partnership with OpenAI, which holds an equity stake in the holding company and provides dedicated technical personnel to accelerate the adoption of these automated systems. This cooperative approach highlights a broader tech industry shift toward highly integrated AI implementation services, mirroring similar joint ventures established by other major AI developers. To date, Thrive's specialized accounting and IT platforms have reported notable improvements in operational speed and accuracy, and the firm now plans to apply these software tools to streamline the paperwork and bureaucratic obstacles associated with physical infrastructure projects.